Solved

Equipment Acquired Several Years Ago by a Capital Projects Fund

Question 4

Multiple Choice

Equipment acquired several years ago by a capital projects fund and reported in the governmental activities statement of net assets at a net book value of $2,000 was sold for $1,000 cash.Journal entries are necessary in the general journals of the


A) General Fund,capital projects fund,and governmental activities.
B) General Fund and governmental activities.
C) General Fund,capital projects fund,and enterprise fund.
D) Capital projects fund and governmental activities.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions